Credit Suisse Vet Predicts $150k Bitcoin Price by 2027
A former Credit Suisse executive believes the worst is over for Bitcoin's price. CK Zheng, who previously worked as global valuation risk manager at the bank, thinks Bitcoin could reach $150,000 by the end of 2027. The prediction is based on several factors that could support a new bull cycle in Bitcoin, including reduced regulatory uncertainty and continued institutional adoption.
One potential factor that could drive up demand for Bitcoin is the growing US government debt. Zheng believes investors may increasingly prefer BTC and gold as hedges against the potential erosion of the dollar's purchasing power. He also mentioned the CLARITY Act, a regulation that could further support the growth of the cryptocurrency sector.
Meanwhile, Michael Saylor's company Strategy has resumed buying Bitcoin. In a recent announcement, Saylor shared data showing that Strategy purchased an additional 4,603 BTC for approximately $370 million. The company now holds a total of 845,050 BTC and $6.71 billion in US dollars in assets.
According to Zheng's prediction, if Bitcoin reaches $150,000 by the end of 2027, the theoretical value of Strategy's current Bitcoin reserve could exceed $126.7 billion.